WHAT DINA THINKS: UAE and Austria COLLAB for Economic Success

Hi expats, Dina here again! 

When worlds of commerce converge, and promising opportunities unfold. Recently, in the vibrant city of Dubai, the UAE-Austria Joint Economic Committee made waves, setting the stage for robust collaboration and exciting partnerships between these two nations.



Chaired by Minister of Economy Abdulla bin Touq Al Marri from the UAE and Minister of Economy and Labour Martin Kocher of Austria, this committee welcomed a host of officials and visionary business minds from both sides. Their mission is "to weave" together the threads of commerce, investment, tourism, technology, and more in a tapestry of cooperation.


Picture this: top officials like Florian Frauscher, the driving force behind economic affairs and innovation at the Austrian Ministry of Economy and Labour, alongside Abdullah Al Saleh, the UAE's undersecretary of the Ministry of Economy, all gathered with a shared purpose—to deepen ties and build bridges across industries like artificial intelligence, green energy, and vocational training.


Bin Touq highlighted the ongoing growth in bilateral relations, emphasizing the forward-thinking visions of both nations. "The UAE-Austria Joint Economic Committee is a new milestone," he remarked, symbolizing the strengthening of economic ties across sectors.


Notably, discussions delved into pivotal economic developments, from updates in Commercial Companies Law to residency systems. Bin Touq extended an invitation, urging Austrian businesses to explore the rich markets of the UAE, enticing them with the perks of its business climate. In turn, the Austrian delegation extended an olive branch, inviting Emirati counterparts to their "Invest in Austria" conference, a gateway to understanding Austria's key industries and investment prospects.


The heart of these talks lay in fostering collaboration between public and private sectors, recognizing the crucial role played by the private sector in bolstering economic ties. The aim? To provide comprehensive support for exporters and importers, nurturing a diverse and thriving trade ecosystem.


This meeting wasn't just about dialogue; it was about action. With high-ranking representatives from both sides, including Juma Mohammed Al Kait, and a formidable lineup from Austria, including Eva Lantschinger and Paul Rock, the commitment to strengthening these ties was palpable.


The numbers speak volumes: with the UAE leading Austria's trade in the GCC and ranking second in the Arab world, and Austria securing its spot among the top ten trading partners within the EU for the UAE, the potential for growth and mutual benefit is evident.


This leaves a trail of anticipation for what lies ahead—a future brimming with collaboration, innovation, and boundless opportunities for both the UAE and Austria.

So, what do you think expats? Good or no? 

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